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Chinese companies leave world behind in race for renewables income, earning twice as much from clean energy as US peers
- Companies on the S&P 500 produce just 3.4 per cent of their revenue from clean-energy sources, roughly half as much as Shanghai index-listed firms
- Asia-Pacific has more than 680 companies that draw more than half their revenue from clean energy, compared with 410 in the US
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The biggest Chinese companies are far out in front of their US and European peers when it comes to generating income from solar, wind, nuclear and other types of renewable energy.
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Companies that make up the S&P 500 produce just 3.4 per cent of their revenue from clean-energy sources, which is roughly half of what companies on the Shanghai Composite Index earn, according to BloombergNEF (BNEF).
Chinese companies such as solar leaders Longi Green Energy Technology and Tongwei are benefiting from the nation’s dominant position in the clean energy supply chain. In fact, the largest number of clean energy equity investment opportunities are in the Asia-Pacific region, according to BNEF.
The region has more than 680 companies that draw more than half their revenue from clean energy, which includes renewable and nuclear power, electrified transport, biofuels, hydrogen and carbon capture, BNEF estimates. That compares with closer to 410 companies in the US and roughly 430 in Europe, the Middle East and Africa combined.
With corporations struggling to make the transition to net-zero emissions, analysts at BNEF examined more than 8,000 companies to determine how much of their revenue is attributable to clean energy.
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